Note 11 - Fair Value Measurements

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Fair Value Disclosures [Text Block]

11. Fair Value Measurements

The following table provides fair value measurement information for the Company’s major categories of financial assets and liabilities measured on a recurring basis (in millions):

	March 31, 2023								December 31, 2022
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Current assets:
Other current assets (1)	$	503	$	2	$	451	$	50	$	505	$	2	$	454	$	49
Non-current assets:
Other assets (1)	$	266	$	6	$	260			$	225			$	224	$	1
Current liabilities:
Other accrued liabilities (1)	$	144			$	144			$	174			$	174
Non-current liabilities:
Other liabilities (1)	$	60			$	60			$	34			$	34

⁽¹⁾ Derivative assets and liabilities include foreign exchange and precious metals lease contracts which were measured using observable inputs for similar assets and liabilities.

There were no significant financial assets and liabilities measured on a non-recurring basis as of March 31, 2023 and December 31, 2022.